Unfortunately, the rediscovery of private money along with the hobbling of the financial regulation put into place after the gold standard brought us into the great depression means that the least scrupulous peopkr in finance have a lot of power to try and make fetch happen.

The recent resurgence in crypto is owed entirely to the coordinated lobbying to tie such assets more closely into legitimate financial institutions, making it easier to dupe the working class into putting some of their life savings into the MLM ‘s for dudes.

While this article does a pretty poor job at it, I do think it is important for a financial community to call out that much like how MLM’s use the veneer of legitimacy granted by the government not considering them pyramid schemes to convince people to pay up these people have successfully lobbied the government to get added to these legitimate financial platforms to draw in more exit liquidity after NFT’s fell apart as a way to do that.

[–] jarfil@beehaw.org 1 points 7 months ago* (last edited 7 months ago)

Disagree, but we can discuss licensed ETF futures HFT trade copying at any moment.

[–] shortwavesurfer@monero.town 1 points 7 months ago

As unfortunate as it is, I am in crypto because I am basically betting on the collapse of the Western system. We have been backed into a corner where inflation has completely eroded the value from both the poor and the middle class and it will only get worse as time goes on. I would much rather be in a currency where the inflation is written in code and so many people agree on it that it's impossible to change without an absolute uproar globally. Once enough, people realize that governments are the problem. We will have a much better world.